https://www.taxtmi.com/caselaws?id=286343 The Tribunal dismissed the Revenue's appeal and allowed the assessee's Cross Objection regarding the disallowance of losses on derivative activities. It was found that the modifications in client codes were minimal compared to total transactions, with no evidence of mala fide intentions. All transactions were properly accounted for, and profits/losses were offered for tax purposes, leading to the rejection of the Revenue's appeal and the allowance of the assessee's Cross Objection. en-us Wed, 03 May 2017 00:00:00 +0530 Sat, 22 Feb 2020 10:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286343 The Tribunal dismissed the Revenue's appeal and allowed the assessee's Cross Objection regarding the disallowance of losses on derivative activities. It was found that the modifications in client codes were minimal compared to total transactions, with no evidence of mala fide intentions. All transactions were properly accounted for, and profits/losses were offered for tax purposes, leading to the rejection of the Revenue's appeal and the allowance of the assessee's Cross Objection. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286343